The $100 MBA Show
Episode: MBA2585 Q&A Wednesday: What Should I Do If a Competitor Copies My Business?
Host: Omar Zenhom
Release Date: February 12, 2025

Introduction

In this episode of The $100 MBA Show, host Omar Zenhom tackles a common and frustrating challenge faced by entrepreneurs: dealing with competitors who mimic your business. Drawing from his extensive experience in building and scaling businesses, Omar provides actionable strategies to not only handle such situations but also turn them into opportunities for growth.

Listener's Question

The episode centers around a question from Tony, a listener who has experienced firsthand the annoyance of competitors copying his business. Tony shares his struggles, particularly with his software company, Webinar Ninja, which has faced repeated instances of feature duplication, website content copying, and even replication of sales videos.

Omar's Response

1. Understanding the Reality of Business

Omar begins by addressing the inevitability of facing copycats in business. He emphasizes that being copied is a testament to the value and effectiveness of your offerings.

Omar Zenhom [01:27]: "If you're being copied, it means you're doing something right. People don't copy things that are not worth copying."

He explains that imitation often signifies leadership within a market, highlighting that your business is setting standards that others aspire to emulate.

2. Competitors Can't Replicate Execution

While competitors may mirror your products or marketing materials, Omar points out that they cannot duplicate the core elements that make your business unique—namely, your team, brand, and customer experience.

Omar Zenhom [03:45]: "They can copy your product or your marketing, but they can't copy your team, your brand, or the experience you deliver to customers."

Using his experience with Webinar Ninja, Omar illustrates how competitors might mimic features, but fail to capture the seamless user experience and superior customer support that define his brand. This discrepancy often leads customers to prefer the original over the imitators.

3. Protecting Your Intellectual Property

Omar advises entrepreneurs to safeguard their business assets legally once they have achieved a certain level of success and profitability.

• Trademarking: Focus on protecting your business name, logo, and possibly a renowned tagline. Omar shares that trademarking these assets can cost under a thousand dollars and is a worthwhile investment once your business is generating revenue.

Omar Zenhom [05:20]: "Once you have a product that actually works and your customers are in love with your brand and your experience, I would recommend at least trademarking your business name."

• Automatic Copyrights: Original content such as website copy and videos are typically protected by copyright laws, which provide a baseline level of protection against blatant copying.

• Legal Enforcement: If copying persists and harms your business, consulting an intellectual property lawyer to send cease and desist letters can be an effective measure.

Omar Zenhom [06:10]: "If the copying is blatant or harms your business, it's worth consulting with a lawyer to stop the behavior."

4. Focusing on Staying Ahead

Instead of getting entangled in the cycle of competition, Omar urges business owners to concentrate on innovation and enhancing customer experience.

• Continuous Innovation: By constantly improving and introducing new features or services, you ensure that competitors remain perpetually one step behind.

Omar Zenhom [07:00]: "Copycats are always one step behind. By continuously to improve and to innovate in your business, you can make it impossible for them to even get ahead."

• Enhancing Customer Experience: Superior customer support, seamless onboarding, and exceptional service can differentiate your brand beyond the replicated features.

He shares a strategy where, instead of confronting competitors directly, he expanded Webinar Ninja's educational content to reinforce his position as a thought leader, thereby attracting customers based on expertise and quality.

5. Changing the Narrative

Omar encourages entrepreneurs to shift their mindset from viewing imitation as a threat to leveraging it as a marketing opportunity.

• Position as the Original: Use the fact that competitors are copying you to highlight your pioneering status in the market.

Omar Zenhom [07:45]: "Position yourself as the original. Share your story, your process, and what sets you apart."

• Leverage in Marketing: Incorporate comparisons in your marketing materials to showcase why your version is superior, thereby reinforcing your brand's strengths.

For example, Omar mentions sharing side-by-side comparisons of his website with a competitor's to demonstrate authenticity and leadership.

Conclusion and Action Steps

Omar concludes by summarizing the key steps Tony and other listeners can take when faced with copycats:

1. Accept Imitation as a Part of Business: Recognize that being copied is a compliment to your business's value.

2. Protect Intellectual Property: Once profitable, invest in legal protections like trademarks to safeguard your brand.

3. Focus on Innovation and Customer Experience: Continually enhance your offerings and provide outstanding customer service to stay ahead.

4. Change the Narrative: Use imitation as a tool to reinforce your position as the market leader and leverage it in your marketing strategies.

Omar Zenhom [08:31]: "Copy copycats will always trail behind and they're not going to be around for long. It's not sustainable."

He emphasizes that businesses that execute better, innovate faster, and serve their customers more effectively are the ones that ultimately succeed, leaving copycats struggling to keep up.

Key Takeaways

• Inevitability of Copycats: Being copied signals that your business is on the right track.

• Unique Execution: Competitors cannot mimic your brand's essence and customer experience.

• Legal Protections: Invest in trademarks and copyrights to protect valuable business assets.

• Innovate Continuously: Stay ahead by constantly improving and introducing new features.

• Leverage Imitation: Use competitors copying you as a marketing tool to reinforce your original position.

By following these strategies, entrepreneurs can not only mitigate the frustration of having their business ideas replicated but also use the situation to strengthen and grow their own ventures.

If you found this summary helpful, consider tuning into The $100 MBA Show for more practical business lessons delivered by Omar Zenhom three times a week.